Bitcoin’s Selling Pressure Plummets: Is a Major Breakout on the Horizon?

According to a recent analysis by CryptoQuant researcher Alex, the average daily selling pressure on leading cryptocurrency exchanges has significantly decreased, falling from 81,000 BTC to just 29,000 BTC. This decline indicates that the market may be transitioning into an asymmetric demand phase, suggesting a potential imbalance favoring buyers. Following its impressive climb past the $100,000 threshold, Bitcoin has effectively managed to withstand successive rounds of profit-taking sell-offs, indicating strong underlying support. Presently, the diminishing selling pressure coupled with buyer resilience is creating an environment ripe for a possible structural supply shortage. Analysts believe that the months of April and May could represent a consolidation range, potentially serving as a calm period before a significant market breakout.